I have met a person who I have exchanged contact information with, but I never asked what exactly what kind of business relationship that he was looking for.

I wouldn't do anything on "her land",only if I owned it outright.She is obviously doing nothing with it and can't afford it so,she needs to sell it to you if she wants the taxes paid in full.Come up with some firm building plans and the financing to pay for it and then go to her and offer her a percentage of the profits till she dies in exchange for ownership now.With 25 acres,I would be building nice apartment buildings for that area and charging market rent.Dump the ball fields and other garbage and start with a full clean slate.

I've actually bonded with a bunch of other newbie investors as we exchange our horror stories/ mistakes. 

@Vilson Nikollaj It sounded like your original statement was to "pay off the first" which means you simply cut them a check, and the first mtg no longer exists, foreclosure is canceled since there is no longer a first mtg....as opposed to "buying the 1st note" which would be paying the first, but in exchange the note is transferred/assigned to you, which means you step into their shoes, and finish the foreclosure.

@Jon Holdman If no cash is exchanged on a subject to sale, how does the seller make a profit?

I think its called 1031 exchange

The exchanges that deal in Bitcoin are not FDIC insuired and have a history of hacking.

While I am new at this, I am very familiar with 1031's.

Is there a way to get around the "same name" rule of the 1031 Exchange?

Would love to exchange perspectives.